Gyrodyne (NASDAQ:GYRO) Share Price Passes Below 200-Day Moving Average – Here’s What Happened

Shares of Gyrodyne , LLC (NASDAQ:GYRO) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $9.67 and traded as low as $8.75. Gyrodyne shares last traded at $8.7950, with a volume of 1,333 shares traded.

Gyrodyne Price Performance

The stock has a 50-day simple moving average of $9.08 and a 200-day simple moving average of $9.67.

Hedge Funds Weigh In On Gyrodyne

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisory Services Network LLC acquired a new position in shares of Gyrodyne during the third quarter worth $77,000. Susquehanna International Group LLP acquired a new stake in shares of Gyrodyne during the 3rd quarter valued at $142,000. Bulldog Investors LLP bought a new stake in Gyrodyne during the 3rd quarter worth $601,000. Finally, Teton Advisors LLC bought a new stake in Gyrodyne during the 3rd quarter worth $177,000. Institutional investors own 71.36% of the company’s stock.

Gyrodyne Company Profile

Gyrodyne Company of America, Inc is a New York–based real estate investment and development firm specializing in medical office buildings and professional facilities. Listed on the NASDAQ under the ticker GYRO, the company’s principal business activity is the ownership, leasing and management of commercial properties tailored to healthcare and life sciences tenants. By focusing on outpatient diagnostic and treatment centers, clinical laboratories and related professional suites, Gyrodyne generates steady rental income and seeks to provide purpose-built environments that meet the specific needs of medical practitioners and research organizations.

The company’s core property portfolio is anchored by an approximately 87-acre campus situated in Stony Brook, Long Island.